What is a standard hurdle on carry for first time funds? I have an LP saying at least a 10% IRR is what they're used to.
Topic: SAFE agreement/ Allocation () Hi All. I'm talking to a couple of startups about their openness in saving a position in their upcoming round for my fund... However 2 questions come to mind -- 1) What is Exhibit A here in the document? 2) Does this mean I need to have the fund entity established (not yet existing today) or could I indicate myself in place of the entity? Thanks for the guidance!
On warehousing deals with markup. I heard on the last AMA that it is advisable to bring the marked up deals to the fund at cost. I'm trying to understand how to make it work. Let's say I have invested $20k into a company last year and now it's worth $60k. If I put this in the fund at cost does it mean that I am gifting 80% of $40k to the LPs right away?
How would it work if an LP wants to up their commitment after they already signed a PACT? or may be after they already wired money for the first capital call?
I’m raising a $10 million fund. What’s the maximum check size of the deal that I should warehouse?
Other then Carta what is the best cap table tool out there? Something better then excel sheets?
Hi guys does anyone have a typical template for a venture partner agreement? Thank you!
Two quick questions 1. Are we able to use funds raised to pay for lawyers fund formation costs etc as a separate cost not associated with the 2% management fee? 2. What is the right distribution for our allocation/fund economics slides i.e. 80% will fail 10% will return 1x and another 10% giving us a 25x (all preseed investments)?
Can I deal warehouse investments that I have made through an Angel Syndicate?
We are invited to a DEI in tech conference as a speaker and the organizer is asking me to speak as the MP of Axent Ventures about immigrant founders. We read the rules about General Solicitation. Shall we totally avoid pronouncing Axent and speak as “Guc” at the event? (event is backed by the state department)?
Guys on the Team slide is it ok to use “fun tone” giving members nicknames e.g. “truffle hunter” to who’s in charge of sourcing deals and “booster” to the one in charge of supporting companies and adding value or is it un-professional and you advise against?
Question about warehousing/liquidating/SPVing Bytedance RSUs a non-thesis holding that doesn't fit my pre-seed fund thesis I have about $2mm in Bytedance RSUs (assuming an implied valuation of $300B). Can't be sold on secondary because of restrictions but they can be transferred via 'forward contracts' that do something similar. I would like to either add to fund or liquidate some of those holdings in Bytedance (about $1m). What are my options? Should I offer this as an SPV on my own? Is there a way to collateralize for a loan the Bytedance RSUs (no bank will do it for these afaik)? Or do I just hold these?
Venture Share – the Venture Partner Agreement; I am cooperating with a foundation that will support us with potential mentors for the companies we invest in. Should I make a Venture Partner Agreement with the foundation or with the mentors directly as individuals? The current framework we are discussing is that the Foundation will compensate the mentors using their funds.
Is it worth warehousing small deals for a $10MM fund? Eg 1 x $20k angel investment that’s been marked up 2.5x in past 3 years
Hi all - I sent my thesis to a friend who happens to be an institutional investor. He asked me what type of equity kickers they might be entitled to as an LP. I'm tempted to state that the standard agreement is 2/20 again because its such a small fund I don't think I should be building any complexity into the LPA's. What are your thoughts? I'm not sure if this is a VC thing or it is something more common in PE.
If I have an LP commit $100k to the fund can I take the full amount on the first close? Is this related to the percentage of fund's LPs coming into the first close?
What are the differences between Partners Principles and Venture Partners?
In my Investment Thesis the typical target is to invest in A round not as a lead but rather as a side investor with a value around 10-15% of the entire round. Am I interpreting the table correctly by giving the fund a size of 5-10 MM (which corresponds exactly to my experience and commitment as a team) that co-invests with Series A funds of 50-100 MM?
Is there any suggested template (or format) for a 1 pager fund summary to send to prospective LPs or VPs instead of the full presentation where the thesis statement would be too little and the full pitch deck would be too much (for those cold reachouts who would not be available to do an in-person pitch at first)? Mike Adeo
Looking at the pre-curriculum in the there is a table which helps to relate team size to fund size (attached). My question is how likely is it that an LP would be willing to put in an investment into a GP who is doing this part time i.e. what is shown for funds under $15M? Is it realistic to raise a pre-seed/seed fund with only a part-time commitment?
